Selling and Buying? Here's a quick tip

[Benny]

Incorrect, options are not what you are implying. You stated "If you want to move and sell your present home, don't list it".

That's not giving people options. That's pushing a singular point of view out there. And to say that financially illiterate people likely can't get a mortgage is like saying 2003-2008 didn't happen, because that was a major factor in the recession and it is still happening today.

....and my biggest piece of advice for folks selling and also in need of buying is requiring a rent back clause when they sell their existing home. As you say, its a sellers market and very few buyers will bat an eye at a 30 or 60 day rent back.

Again, not wanting to start an argument. I get you are wanting to educated and I applaud that. I have just seen a lot of destruction when someone gets over-leveraged and something bad happens at the worst possible time.   

[pianoman9701]

Incorrect, options are not what you are implying. You stated "If you want to move and sell your present home, don't list it".

That's not giving people options. That's pushing a singular point of view out there. And to say that financially illiterate people likely can't get a mortgage is like saying 2003-2008 didn't happen, because that was a major factor in the recession and it is still happening today.

....and my biggest piece of advice for folks selling and also in need of buying is requiring a rent back clause when they sell their existing home. As you say, its a sellers market and very few buyers will bat an eye at a 30 or 60 day rent back.

Again, not wanting to start an argument. I get you are wanting to educated and I applaud that. I have just seen a lot of destruction when someone gets over-leveraged and something bad happens at the worst possible time.   

No, I didn't say that. I said you can't get a HELOC if your house is listed for sale. If you want to get a bridge loan, which costs a lot more and still has you leveraged, you can list your home. Listings in most of WA right now are selling in about 7 days. I suggest you buy a sponsorship and post all the opinions you want in the sponsor classifieds. Thanks for playing. 

[Benny]

Incorrect, options are not what you are implying. You stated "If you want to move and sell your present home, don't list it".

That's not giving people options. That's pushing a singular point of view out there. And to say that financially illiterate people likely can't get a mortgage is like saying 2003-2008 didn't happen, because that was a major factor in the recession and it is still happening today.

....and my biggest piece of advice for folks selling and also in need of buying is requiring a rent back clause when they sell their existing home. As you say, its a sellers market and very few buyers will bat an eye at a 30 or 60 day rent back.

Again, not wanting to start an argument. I get you are wanting to educated and I applaud that. I have just seen a lot of destruction when someone gets over-leveraged and something bad happens at the worst possible time.   

No, I didn't say that. I said you can't get a HELOC if your house is listed for sale. If you want to get a bridge loan, which costs a lot more and still has you leveraged, you can list your home. Listings in most of WA right now are selling in about 7 days. I suggest you buy a sponsorship and post all the opinions you want in the sponsor classifieds. Thanks for playing. 

You did say exactly that, in your first sentence.

I'm done now...I promise 

[pianoman9701]

Incorrect, options are not what you are implying. You stated "If you want to move and sell your present home, don't list it".

That's not giving people options. That's pushing a singular point of view out there. And to say that financially illiterate people likely can't get a mortgage is like saying 2003-2008 didn't happen, because that was a major factor in the recession and it is still happening today.

....and my biggest piece of advice for folks selling and also in need of buying is requiring a rent back clause when they sell their existing home. As you say, its a sellers market and very few buyers will bat an eye at a 30 or 60 day rent back.

Again, not wanting to start an argument. I get you are wanting to educated and I applaud that. I have just seen a lot of destruction when someone gets over-leveraged and something bad happens at the worst possible time.   

No, I didn't say that. I said you can't get a HELOC if your house is listed for sale. If you want to get a bridge loan, which costs a lot more and still has you leveraged, you can list your home. Listings in most of WA right now are selling in about 7 days. I suggest you buy a sponsorship and post all the opinions you want in the sponsor classifieds. Thanks for playing. 

You did say exactly that, in your first sentence.

I'm done now...I promise 

You're absolutely correct. I stand corrected. I'll edit that. Thank you.

[pianoman9701]

I changed it for accuracy. Thanks again.

[Benny]

 

[Southpole]

I appreciate the advice on loan options. I’m asset rich and cash poor which a Heloc would be a good option for future home purchasing.